Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency (“CRA”), Adopting A Budget For The Beach District Of The CRA And Making Appropriations For Fiscal Year 2027.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
This Resolution seeks approval for the Fiscal Year 2027 Operating Budget for the Hollywood Community Redevelopment Agency (“CRA”) Beach District.
For Fiscal Year 2027 the projected taxable value for the Beach District of the Hollywood Community Redevelopment Agency is $4,693,669,341.00 which is a 3.15% decrease below the previous year’s taxable value. Based on the increment value, the TIF revenue for Fiscal Year 2027 is projected at $53,354,658.00 which is a decrease of 3.56% below the prior year. Other sources of revenue include an estimated carry forward balance of $64,534,747.00, investment revenue of $1,500,000.00 and anticipated grant reimbursements of $13,350,000.00, bringing the total Operating Budget for the Beach CRA to $132,739,405.00.
Fiscal Impact:
Sufficient revenues have been projected to support the anticipated operating expenditures in Fiscal Year 2027, which includes $14,040,700.00 in refunds to the three taxing authorities.
Recommended for inclusion on the agenda by:
Raelin Storey, CRA Executive Director